XTC New Energy and Orano signed agreements to create two joint-ventures
On May 16, 2023 Beijing time, XTC New Energy and Orano signed the agreements to create two joint ventures in Paris. Philippe Knoche, CEO of Orano group, Didier David, Battery Project Director of Orano group, Huang Changgeng, Chairman of XTC group, Jiang Long, General Manager of XTC New Energy, and other leaders from both parties attended the ceremony.
In order to achieve overseas layout and win-win cooperation, the two parties will give full play to their respective advantages and form complementary advantages. Two joint venture companies will be established in France to produce and sell cathode materials and lithium-ion precursors. The one for cathode materials will be invested 51% by the European subsidiary of XTC New Energy and 49% by Orano CAM. The other for lithium-ion precursors will be invested 49% by the European subsidiary of XTC New Energy and 51% by Orano PCAM.
The cooperation has been closely followed by French President Emmanuel Macron, who spoke highly of it. He particularly emphasized the cooperation between XTC New Energy and Orano in the Dunkirk grand coastal city community will create 1,700 jobs and will enable France to secure an upstream position in the value chain of lithium battery production.
In the ceremony, Huang Changgeng, Chairman of XTC group: "The joint ventures of lithium-ion battery precursors and cathode materials invested by XTC New Energy and Orano come from both parties’ estimates and based on sincere cooperations. Both sides will bring their superiorities into full play. These projects will help XTC New Energy to bring its advanced solutions of new energy materials to Europe, and definitely put new vigor and vitality into the new energy material industrial base which is expected to be the most competitive in the world."
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